Hanwha Life Insurance Co., Ltd. (KRX: 088350)

Hanwha Life Insurance Income Statement

Financials in millions KRW. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	11,009,906	10,429,544	11,503,788	16,539,113	16,308,485	15,659,828
Total Interest & Dividend Income	4,145,036	4,143,174	4,372,018	3,744,107	3,714,267	3,689,639
Gain (Loss) on Sale of Investments	3,426,416	3,125,380	1,438,682	1,435,857	1,352,078	726,701
Other Revenue	3,970,261	4,039,818	3,452,089	2,046,584	2,735,521	1,856,728
Total Revenue	22,551,619	21,737,916	20,766,576	23,765,661	24,110,350	21,932,897
Revenue Growth (YoY)	10.98%	4.68%	-12.62%	-1.43%	9.93%	4.76%
Policy Benefits	13,934,441	13,321,910	10,535,803	15,923,878	15,891,773	15,102,450
Policy Acquisition & Underwriting Costs	-	-	-	1,186,927	738,213	752,417
Amortization of Goodwill & Intangibles	80,594	77,826	52,992	102,749	125,878	123,333
Depreciation & Amortization	40,381	84,379	60,308	40,698	40,325	36,631
Selling, General & Administrative	378,456	338,777	316,955	814,427	1,004,304	1,024,645
Other Operating Expenses	3,579,870	4,563,037	5,027,104	3,548,370	2,418,159	3,031,198
Reinsurance Income or Expense	-745,805	-727,948	-824,796	-1,478,269	-1,336,768	-1,584,249
Total Operating Expenses	18,909,469	19,262,335	16,864,226	23,859,784	22,468,146	22,506,737
Operating Income	3,642,150	2,475,582	3,902,351	-94,123	1,642,204	-573,840
Interest Expense	-499,575	-473,412	-271,306	-	-	-
Earnings From Equity Investments	17,411	-9,234	-56,426	100,973	4,694	-3,145
Currency Exchange Gain (Loss)	-228,077	563,883	715,546	1,796,120	-852,404	1,036,503
Other Non Operating Income (Expenses)	73,189	-24,172	88,170	165,351	-69,251	-20,585
EBT Excluding Unusual Items	3,005,098	2,532,647	4,378,335	1,968,321	725,243	438,932
Gain (Loss) on Sale of Investments	-2,029,185	-1,509,009	-3,089,616	-350,022	-446,100	-413,263
Gain (Loss) on Sale of Assets	74,768	63,011	93,061	41,945	-4,156	9,210
Asset Writedown	-7,251	-7,013	-2,248	-1,747	-67	-
Pretax Income	1,043,430	1,079,636	1,379,532	1,658,497	274,921	34,879
Income Tax Expense	335,266	253,655	209,054	409,337	66,674	-23,788
Earnings From Continuing Ops.	708,164	825,981	1,170,478	1,249,160	208,247	58,667
Minority Interest in Earnings	-121,065	-67,501	-140,149	-57,849	-6,133	41,754
Net Income	587,099	758,480	1,030,329	1,191,311	202,114	100,421
Preferred Dividends & Other Adjustments	56,072	37,766	88,808	95.98	96,514	86,630
Net Income to Common	531,027	720,714	941,521	1,191,215	105,600	13,791
Net Income Growth	6.80%	-26.38%	-13.51%	489.43%	101.27%	-75.82%
Shares Outstanding (Basic)	734	756	754	753	752	751
Shares Outstanding (Diluted)	734	756	754	753	752	751
Shares Change (YoY)	-9.13%	0.22%	0.15%	0.09%	0.08%	-
EPS (Basic)	723.19	953.86	1248.89	1582.54	140.42	18.35
EPS (Diluted)	723.19	953.86	1248.89	1582.54	140.42	18.35
EPS Growth	3.84%	-23.62%	-21.08%	1026.99%	665.08%	-96.12%
Free Cash Flow	5,150,714	1,700,759	864,036	5,472,342	1,442,392	905,756
Free Cash Flow Per Share	7014.64	2250.93	1146.11	7270.07	1918.03	1205.44
Dividend Per Share	150.000	150.000	-	-	-	-
Operating Margin	16.15%	11.39%	18.79%	-0.40%	6.81%	-2.62%
Profit Margin	2.35%	3.32%	4.53%	5.01%	0.44%	0.06%
Free Cash Flow Margin	22.84%	7.82%	4.16%	23.03%	5.98%	4.13%
EBITDA	3,763,125	2,637,787	4,155,851	181,691	1,932,333	-301,256
EBITDA Margin	16.69%	12.13%	20.01%	0.76%	8.01%	-1.37%
D&A For EBITDA	120,975	162,205	253,500	275,814	290,129	272,584
EBIT	3,642,150	2,475,582	3,902,351	-94,123	1,642,204	-573,840
EBIT Margin	16.15%	11.39%	18.79%	-0.40%	6.81%	-2.62%
Effective Tax Rate	32.13%	23.49%	15.15%	24.68%	24.25%	-

Source: S&P Capital IQ. Insurance template. Financial Sources.